HomeMy WebLinkAbout022521 RES - 03/26/1996RESOLUTION
AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE
TO EXECUTE A MASTER EQUIPMENT LEASE/PURCHASE
AGREEMENT WITH DIVERSIFIED LENDERS, INC. TO
FINANCE $1,771,000 OF THE PURCHASE PRICE FOR THE
UTILITY CUSTOMER INFORMATION AND BILLING
SYSTEM AND RELATED SERVICES; AND AUTHORIZING
THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE
SUCH OTHER DOCUMENTS AS MAY BE NECESSARY OR
APPROPRIATE TO IMPLEMENT THIS MASTER
EQUIPMENT LEASE/PURCHASE AGREEMENT,
INCLUDING AN ESCROW AGREEMENT BETWEEN THE
CITY, DIVERSIFIED LENDERS, INC., AND NATIONSBANK
OF TEXAS, N.A.
WHEREAS, the City Council has determined that it is necessary for the City to procure a
Customer Information and Utility Billing System and related services from H.T.E., Inc.; and
WHEREAS, the City Council has also determined that it is appropriate to finance
$1,771,000 of the purchase price for the Customer Information and Utility Billing System and
related services through a lease/purchase agreement with Diversified Lenders, Inc.,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
SECTION 1. That the City Manager or his designee is authorized to execute a master
equipment lease/purchase agreement with Diversified Lenders, Inc. to finance $1,771,000 of the
purchase price for the Utility Customer Information and Billing System and related services.
SECTION 2. That the City Manager or his designee is authorized to execute such other
documents as may be necessary or appropriate to implement this master equipment lease/purchase
agreement, including an escrow agreement between the City, Diversified Lenders, Inc., and
NationsBank of Texas, N.A.
ATTEST:
Armando Chapa, City Secr ' ary
THE CITY OF CORPUS CHRISTI
MAYOY RHODES
APPROVED: a2 DAY OF 410 -trek , 1996
JAMES R. BRAY JR. CIT TORN�Y
By: %� 1 toMichael L. Scanlon
Assistant City Attorney
MS5000 080 bak
March 22, 1996 (8.42am)
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Corpus Christi, Texas
Z1 day of LICade 1A , 19 (1
The above resolution was passed by the following vote:
Mary Rhodes
Dr. Jack Best
Betty Black
Melody Cooper
Tony Heldenfels
Betty Jean Longoria
John Longoria
Edward A. Martin
Dr. David McNichols
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0925.31
CITY OF CORPUS CHRISTI, TEXAS
(2UCLIFI(ATION OF FUNDS 7
(City Charter Article IV Section &R)
March 22, 1996
I certify to the City Council that $ 220,581.70 , the amount required for
the contract, agreement, obligation or expenditures contemplated in the above
motion
,and foregoing cathalaras is in the Treasury of the City of Corpus Christi to the
credit of:
Fund No. and Name See below
Project No. See below
Project Name See below
from which it is proposed to be drawn, and such money is not appich,riated for
other purpose.
Water Fund 141-361-541.99-499 Reserve Appropriation $83,655.83
Gas Fund 106-362-532.99-499 Reserve Appropriation $63,478.34
Wastewater Fd 109-363-543.99-499 Reserve Appropriation $43,095,71
General Fund 102-901-521.99-499 Reserve Appropriation $30,351.82
FIN 2-55
Revised 7/31/69
, 19 74
any
/14:6 -172411 --
Director
Council meeting dated March 26, 1996
Current year funding of Utility Customer Billing System